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Chana up 0.76% on spot demand

Hopes of higher sowing restricts gains

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Press Trust of India New Delhi
Last Updated : Jan 24 2013 | 2:10 AM IST

Chana remained higher and added Rs 35 to Rs 4,617 per quintal in futures trading today as speculators enlarged their positions, driven by a pick up in demand in the spot market.

Revival in monsoon that raised hopes of higher sowing restricted the gains.

At the National Commodity and Derivatives Exchange, chana for delivery in October moved up by Rs 35, or 0.76%, to Rs 4,617 per quintal, with an open interest of 91,890 lots.

September chana traded higher by Rs 33, or 0.71%, to Rs 4,669 per quintal, with an open interest of 15,810 lots.

Marketmen said increased buying by speculators, driven by a pick up in spot market demand kept chana futures firm.

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First Published: Sep 13 2012 | 1:28 PM IST

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